Faced with processes such as the current one, in which there seems to be a move towards stabilization of the macroeconomy, control of public spending, reduction of emissions and the attenuation of the ferocious inflationary impulses of the recent past, critical thinking about of how to manage the flow and stock of personal budgets in order to obtain consistent positive rates.
It is clear that ordinary Argentines have an early warning to respond and confront inflationary peaks, with varying degrees of success. Thus, in high volatility cycles with strong monetary emission, there is in our memory the gymnastics to display a wide menu that includes the dollar-rate minuet, the management of balances in wallets with remunerated balances, the accumulation of cans of tuna and toilet paper, the filling of the tank. fuel on strategic dates and, as possible, also the acquisition of durable goods or the advance purchase of tourist packages.
But, just as it happens with many mass consumption brands that, accustomed to decades of controls and regulations that are often discretionary, are disoriented and encounter difficulties because they are not prepared to face internal and external competition, individuals must also deconstruct and reset. to rethink and value your own savings pyramid. After many years, a can of tuna costs almost the same this month as next. And if we save, our money can grow thanks to compound interest and we can focus on fulfilling our dreams and medium-term objectives.
For the majority of Argentines, from now on this great challenge of strategic reset of our personal economy involves successfully managing personal finances. This is not about becoming a Wolf of Wall Street, but to be able to identify and articulate the appropriate financial tools to be consistent with the individual and family present and future, to meet the goals that each person plans according to their own expectations.
And when one does not have sufficient financial knowledge, it is always best to access the advice of a Financial Advisor, who will help the person plan their finances to meet their goals: a car, a daughter’s 15th party, a trip, or even the dream of your own home.
The challenge of fulfilling the dream of owning your own home
A sign of our times has to do, for example, with the housing deficit in Argentina and the brutal historical gap between salaries and the value of homes. According to the 2022 population and housing census, only 65% of the Argentine population owns its home, which implies a decrease of 10 percentage points since the 2010 record. Without going into the analysis of the multiplicity of causes, It is clear that the unstable economy has prevented the development of an accessible and sustainable credit market and has distanced the financial system from what should naturally be a strategic axis of its business.
The current downward trend in inflation is generating a change in expectations today. Various banking entities, both public and private, emerge to offer UVA mortgage loans to individuals.
The decision to access a mortgage loan is a decision that will impact a person throughout 20 or 30 years of life. However, banking entities require – among other requirements – an initial contribution of between 20% and 30% of the value of the property. This point in itself reveals the importance of being able to consolidate intelligent savings with a medium-term vision.
This is another example of how the management of personal finances becomes essential in an economy that aims to focus on greater stability and, therefore, predictability.
When organizations play a fundamental role in the well-being of their employees
The pitfall of the average population’s lack of financial education is an alarming reality. Their absence causes stress and uncertainty for employees of all types of industry, position and hierarchy. This causes individuals to often turn to investment alternatives with high volatility without understanding their risks and even become victims of scams.
That is why, once again, it is vital to rely on professional financial advisors, with know-how and proven experience, who operate transparently in the market and who are focused on offer personalized financial planning solutions, adapted to the needs and savings capabilities of each individual.
Given this problem, it is no coincidence that organizations of all types and sizes are recognizing Financial Education as a pillar of the well-being of their employees. It is known that financial stress causes work teams from low productivity to absenteeism and staff turnover. This is why numerous companies throughout Latin America are turning to incorporating strategic consulting in personal finances to provide their collaborators with financial training as another element to consolidate their sense of belonging to the organization and promote the comprehensive well-being of each of their employees. collaborators.
Managing Director of Pension & Benefits (P&B) of CRITERIA, for Latin America
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
